EMEA News
Finnish LNG Bunkering Station Receives Approval for €23.44 million in Financial Support
The European Commission has granted its approval to Finnish government plans to provide €23.44 million ($26.11 million) in funding for an €81 million ($90.13 million) project to develop a liquid natural gas (LNG) bunkering terminal on Finland's west coast at Pori, IHS Maritime reports.
The approval signifies that the commission has deemed the grant to be compatible with European Union (EU) state aid regulations, with the commission noting that the LNG terminal would not be possible without public financial support.
"It is a good example of how EU state aid rules can encourage sound public investment that helps the EU reach its goals on energy security and environmental protection," said Margrethe Vestager, EU competition commissioner, noting that the terminal will help provide cleaner fuel to the maritime sector.
Vestager also notes that the LNG terminal, Finland's first such development, will also help diversify the country's gas supply sources.
Construction of the 30,000 m³ capacity terminal is said to have begun last autumn, and when it is completed next year will be the first in a network of Finnish LNG bunkering stations.
Last year, when Skangass announced it was planning to build a new import terminal for LNG at Pori, it was unclear at the time if bunkering would be included in the plans.
